Strata Senior mHYPER wallet

What is Strata Senior mHYPER (SRMHYPER)?

Seniority is the entire proposition of SRMHYPER. Strata carves claims on the mHYPER strategy into two tokens, and this is the one with priority: proceeds from the underlying settle the senior tranche before anything reaches the junior tranche, and the junior side absorbs shortfalls first. In exchange, the senior claim is the more predictable and the more limited of the two.

The underlying mHYPER is a tokenized strategy wrapper, not a base-layer coin, so the senior token depends on that wrapper's own valuation and unwind mechanics as well as on the tranche rules layered over it.

For a holder, three things are worth fixing in mind. First, the balance behaves like a share: the unit count sits still and the tranche's accounting is reflected in what each unit redeems for, so nothing arrives as a separate payment. Second, SRMHYPER and JRMHYPER look almost identical in a token list and are not the same instrument; the two-letter prefix is the only thing distinguishing them. Third, this is an Ethereum ERC-20 and exits run through the protocol's redemption path, with ETH needed for gas at both ends.

Supported networks in Tangem (1): Ethereum.

A senior tranche is usually bought and then forgotten, which puts all the weight on the key rather than on the interface. Tangem creates that key inside the card and it never leaves the chip; the backup is a second card holding the same key, kept apart from the first, and a seed phrase stays optional. An instrument you plan to ignore deserves storage you can also ignore.